(Lee Seung-hwan)

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South Korea’s exports remained strong during the first 20 days of March 2025, buoyed by robust semiconductor and ship sales.

According to the Korea Customs Service on Friday, exports from March 1st to 20th totaled $35.5 billion, marking a 4.5 percent ($1.53 billion) increase from the same period during the previous year. The average daily export value, adjusted for the number of working days, rose 8.2 percent to $2.54 billion. The number of working days during this period stood at 14, 0.5 days fewer than last year’s 14.5 days.

Exports saw an uptrend for 15 consecutive months through December 2024 before slipping the next month due to fewer working days with the Lunar New Year holidays. The trend reversed in February 2025, with exports edging up 1 percent.

By product category, shipments of semiconductors (11.6 percent), passenger cars (3.7 percent), and ships (80.3 percent) increased during the first 20 days of March 2025.

Semiconductor exports accounted for 19.9 percent of total exports, up 1.3 percentage points, while petroleum product (-24.6 percent) and auto parts (-5.9 percent) exports declined.

By destination, exports to the United States (2.5 percent), the European Union (15.2 percent), and Vietnam (4 percent) increased, while shipments to China (-3.8 percent) and Hong Kong (-16.4 percent) fell. The combined share of exports to the United States, China, and the EU stood at 48.7 percent.

Imports during the same period totaled $34.4 billion, down 1.4 percent ($500 million) from the previous year. By category, imports of semiconductors (6.8 percent), gas (14.2 percent), and semiconductor equipment (64.6 percent) increased, while crude oil (-19.0 percent) and machinery (-5.3 percent) fell.

By country, imports from the EU (5.4 percent), Japan (11.1 percent), and Taiwan (32.3 percent) rose, while those from China (-4.0 percent) and the United States (-13.4 percent) fell.

With exports outpacing imports, the trade balance recorded a surplus of $1.1 billion.